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Atrum Coal (ASX:ATU) - CEO & Managing Director, Andrew Caruso (left) - The Market Herald
CEO & Managing Director, Andrew Caruso (left)
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  • Atrum Coal (ATU) has reported thick coal intersections at its Elan Hard Coking Coal Project in southern Alberta, Canada
  • Atrum has completed 102 rotary air blast (RAB) holes at Isolation South and is now in the final stages of drilling
  • The last 23 holes are targeting lesser drilled areas around the Isolation South pit shell area which were identified during the scoping study
  • Pleasingly, total apparent coal thickness has averaged over 30 metres per hole
  • Additionally, 21 large diameter core holes have been drilled and the last 11 are aimed at reducing the spacing between coal quality to around 250 metres or less
  • The company's resource update is on track for later this year and a pre-feasibility study is expected in mid-2021
  • Atrum's shares are trading 4.44 per cent higher at 23.5 cents just before market close

Atrum Coal (ATU) has reported thick coal intersections at its Elan Hard Coking Coal Project in southern Alberta, Canada.

The Elan Project hosts shallow, thick, hard coking coal (HCC) deposits with a current resource estimate of 454 million tonnes. Of this, 142 million tonnes is in the indicated category and the remaining 312 million tonnes is in the inferred category.

Atrum has completed 102 rotary air blast (RAB) holes at Isolation South and is now in the final stages of drilling.

The final 23 planned holes are targeting lesser drilled areas around the Isolation South pit shell area that were identified during the scoping study.

The RAB program has continued to track in-line with expectations, with total apparent coal thickness averaging over 30 metres per hole in the scoping study pit shell area.

Particularly significant total apparent coal intersections over the past month include 88.8 metres, 80.6 metres and 76.8 metres across three holes.

Coal intersections are also shallow with the depth starting as low as three metres below surface in some areas.

Additionally, 21 large diameter core (LDC) holes out of a 32-hole program have been drilled. The remaining 11 holes are aimed at reducing the spacing between coal quality to around 250 metres or less within the scoping study pit shell area.

Pleasingly, Atrum claims the large diameter method continues to be successful with excellent core recovery reported for most holes.

"Program delivery, both RAB and coring, has been strong and keeps us well on track for the targeted resource update in 4Q 2020. Most importantly, the results of the 2020 program have to date validated our resource expectations at Isolation South," Managing Director and CEO Andrew Caruso said.

Atrum Coal is preparing for a resource update in the final quarter of this year and the pre-feasibility study for the Elan project in mid-2021.

Atrum's shares are trading 4.44 per cent higher at 23.5 cents each just before market close.

ATU by the numbers
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